Tuesday, 18 June 2013

Here comes soul-stirrer

HASSAN ROWHANI victory in the Iranian election is truly stunning. It opens a window of hope for an easing of tensions between Iran and the West on the tense nuclear file but also on the more pressing issue-the self-destructive clash between Shiite and Sunni Islam which is killing thousands in Syria and Iraq and is a threat to the entire region of the Middle East. Although Rowhani had well ahead in the latest pre-election polls, no one expected him or someone else to get enough votes to avoid a runoff. That he did so is amazing, in a sixhorse race. The result confirms that ...

Last week gave the International Monetary Fund, whose normal role is that of the United States, strict disciplinary spendthrift Governments an unusual advice. "Lighten up," urged the Fund. "Enjoy life! Seize the day! " OK, Fund officials do not use those words, but they came pretty close, with an article in the magazine IMF survey titled ' ease off spending cuts to Boost our Recovery '. In its more formal statement, the Fund has argued that the receiver and other forms of fiscal contraction this year will cut us growth by nearly half, undermining what else a fairly robust recovery. And these cuts are both unwise and unnecessary. Unfortunately, the Fund apparently could not bring ...